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Bplan Final.Docx Mixed Income TOD Acquisition Fund Business Plan Framework November 2008 prepared for: The San Francisco Foundation The Center for Transit-Oriented Development (CTOD) Local Initiatives Support Corporation (LISC) Bay Area Mixed Income TOD Land Acquisition Fund -2- I. INTRODUCTION .........................................................................................5 Background ........................................................................................................................... 5 the Need For A TOD Acquisition Fund ..................................................................................... 5 About this report..................................................................................................................... 6 II. REGIONAL SCAN AND NEED ASSESSMENT .................................................7 Land Supply: Parcel Size ......................................................................................................................................... 7 Land Supply: Total Acreage .................................................................................................................................... 8 Vacant Land: Land Value ...................................................................................................................................... 10 Vacant Land: Land Use Type ................................................................................................................................ 10 Income Levels and Diversity.................................................................................................................................. 11 Existing Subsidized Housing Stock....................................................................................................................... 11 Current Planning Efforts........................................................................................................................................ 12 Summary of Findings .............................................................................................................................................. 15 III. GOALS, OPERATIONS, AND NEXT STEPS ..................................................16 Setting the Vision.................................................................................................................. 16 Conditions for Fund Deployment ............................................................................................ 16 Fund Operation.................................................................................................................... 17 Next Steps ........................................................................................................................... 19 IV. APPENDIX A: CASE STUDIES.....................................................................20 San Jose North First Street ..................................................................................................... 20 Land Supply .............................................................................................................................................................. 20 Quality of Transit/Accessibility............................................................................................................................. 20 Income and Diversity .............................................................................................................................................. 21 Demand for Housing............................................................................................................................................... 23 Existing Stock of Subsidized Housing .................................................................................................................. 23 Local Policies........................................................................................................................................................... 25 Potential Role of Fund............................................................................................................................................ 25 San Francisco Third Street ..................................................................................................... 26 Land Supply .............................................................................................................................................................. 26 Quality of Transit/Accessibility............................................................................................................................. 28 Income and Diversity .............................................................................................................................................. 28 Demand for Housing............................................................................................................................................... 30 Existing Stock of Subsidized Housing .................................................................................................................. 30 Local Policies........................................................................................................................................................... 32 Potential Role of Fund............................................................................................................................................ 32 Southern Alameda County..................................................................................................... 33 Quality of Transit/Accessibility............................................................................................................................. 34 Income and Diversity .............................................................................................................................................. 35 Demand for Housing............................................................................................................................................... 37 Existing Stock of Subsidized Housing .................................................................................................................. 37 Local Policies........................................................................................................................................................... 39 Potential Role of Fund............................................................................................................................................ 39 Pittsburg / Antioch.................................................................................................................. 40 Quality of Transit/Accessibility............................................................................................................................. 41 Income and Diversity .............................................................................................................................................. 42 Demand for Housing............................................................................................................................................... 43 Mixed Income TOD Land Acquisition Fund -3- Existing Stock of Subsidized Housing .................................................................................................................. 43 Local Policies........................................................................................................................................................... 44 Potential Role of Fund............................................................................................................................................ 44 V. APPENDIX B: LAND SUPPLY IN STATION AREAS .......................................47 VI. APPENDIX C: PARCEL SIZES IN STATION AREA S .......................................63 VII. APPENDIX D: LAND USE OF PARCELS IN STATION AREAS .........................67 VIII. APPENDIX E: MEDIAN INCOME AND INCOME DIVERSITY ..........................71 IX. APPENDIX F: STOCK OF SECTION 8 AND LIHTC-SUPPORTED UNITS ...........78 Mixed Income TOD Land Acquisition Fund -4- I. INTRODUCTION BACKGROUND The Great Communities Collaborative (GCC) brings together residents and local organizations to participate in community planning processes across the Bay Area to create a region of vibrant neighborhoods with affordable housing, shops, jobs and services near transit. The GCC is a unique cooperative relationship between four Bay Area nonprofit organizations - Greenbelt Alliance, TransForm, Urban Habitat, the Non-Profit Housing Association of Northern California, and the national nonprofit Reconnecting America. The East Bay Community Foundation, the San Francisco Foundation and the Silicon Valley Community Foundation are also part of the collaborative. In 2006, members of the GCC met with the Bay Area Local Initiatives Support Corporation (Bay Area LISC) and the San Francisco Foundation to craft a strategy for property acquisition in support of equitable TOD. These conversations were rooted in the recognition that the ability to control land and land use is often critical to ensuring that affordable housing, open space, and community facilities are not left out, but rather go hand-in-hand with private market development. Following those initial meetings, the GCC released a report in 2007 authored by the Center for Transit Oriented Development (CTOD) and the Center for Community Innovation called Transit-Oriented for All, which made the case that TOD
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